time in/ time out

suggy

Active member
133 0
lo all. just wondering, do you think the less time you spend in the market the better, or do you stay in all the time with reversals etc etc? Do you get out because you have made your targets? would appreciate your comments? :)
 

juanbyte

Well-known member
332 10
Hi Suggy

I used to trade about 8 hours a day, I did quite well but noticed sometimes I would make money in the morning and lose some of it in the afternoon, there are a couple of reasons for this.

Now I only trade for the first hour and have got a life.

juanbyte
 

FTSE Beater

Experienced member
1,518 4
Hi Suggy

I might have read the question wrong, but are you talking about how much time you spend in a trade?

If so it comes down to personal choice. I would say I aim to say in for 10 to 15 bars - so depending on your time-frame will depend how long your in the market.

With regards to targets. I see what the price is doing once it gets to the target. It might be strong enough to carry on, in which case I'll let it run.

HTH :)
 

waytogo

Active member
162 0
Hi

I think that you mean how much time during the day is spent trading, not in any one trade. I have also been giving this a lot of thought recently, as I believe that I spend far too much time sitting staring at this screen and often if I have a good morning I will give it all back in the afternoon, due to tiredness, boredom, etc

Firstly I am not in the market all of the time, but do sometimes go for reversals - it depends on how I feel at that moment and whether I judge the odds to be in my favour or not.

Secondly, I have now decided to try and trade mornings only with the following rules (in this order)

1) Stop when I have reached my target for the day
or
2) Stop trading at the end of the morning if I am breakeven or have made any profit at all
or
3) only trade in the afternoon if I have made a loss in the morning, as that is usually due to the market being flat while waiting for some US data, when there will be a big move in the afternoon when I can hopefully recoup my losses at least, or if I am lucky make a profit. :)

Waytogo
 

Skimbleshanks

1
2,325 16
In my view it all depends on what type of day it is - trending or choppy.

If it's a trending day then I will stay in through the retracements because these tend to be just small pullbacks. If the market is a little jittery and feels unbalanced then I trade each swing. On a trending day I will set a stop and sit back or pootle around the house, but on a choppy day then I take 2 points here and 1.5 points there on ES.

If there is a big move in the morning session, then lunchtime tends to be dull and listless, but if the morning has been lacklustre then the nice moves will happen over the lunchtime period.

If you can learn to get a feel for the market's character on the day, it will give you a fair idea of how to tackle the trading, and therefore you can decide how long you sit behind the screen.
 

suggy

Active member
133 0
thanks guys. FB I guess it was a little vague, I was after both time 'active' in the market so yes total of combined trades, as well as amount of time 'trading'. I have heard people say the less time you are in the market the better, presumably because it is a risky business after all, but others here adopt the approach of being almost constantly in an active trade. Do any of you trade full time for yourself? I would be interested to hear of how long you spend trading? And how much of that is screenwatching? thx
 

TBS

Well-known member
385 0
I have positions permanently in the market so tend to spend alot of time behind the desk, however, I also spend a lot of time doing 'other things' - websites, chart analysis, software design etc....

I very soon found that doing nothing but stare at the screen 'scares' you into poor trading - you need to have something to take the edge off the absolute concentration otherwise you go mad..... bribble.... bribble
 

Les Carlin

Member
58 0
Hi Ss,
In my view it all depends on what type of day it is - trending or choppy.
If it's a trending day then I will stay in through the retracements because these tend to be just small pullbacks. If the market is a little jittery and feels unbalanced then I trade each swing. On a trending day I will set a stop and sit back or pootle around the house, but on a choppy day then I take 2 points here and 1.5 points there on ES.
.
This approach is very similar to my own, but i'd be interested to know if you have some method for deciding early on in the session which is a trending and which is choppy and difficult ride. The trending day is always easiest to handle - i go play my guitar in another room and set Sierra to give me a very loud telephone ring :)
 

Les Carlin

Member
58 0
TBS said:

" I very soon found that doing nothing but stare at the screen 'scares' you into poor trading - yuo need to have something to take the edge off the absolute concerntration otherwise you go mad..... bribble.... bribble"

Now he tells me ...
 

Skimbleshanks

1
2,325 16
Les Carlin said:
The trending day is always easiest to handle - i go play my guitar in another room and set Sierra to give me a very loud telephone ring :)
It might be for you, but it's not for me!

I find trending days the hardest to trade actually if I'm being honest. A nice choppy day suits me down to the ground because I'm good at spotting the turns and trading the swings.

I only do well on trending days if I've caught the bottom, put a stop in and gone out. And then there's a nice surprise waiting for me when I come back. I can spot and trade Elliott Waves, but once I've had wave 5 up I just want to short the blighter! I have very tight stops, so on a trending day my commissions rack up because I've taken lots of small trades.

Spotting a trending day or a trading range day is not too difficult I find, but I trade with a lot of intuition so it's not easy to explain. I like to look on the market as being a woman, so if the previous day there has been a strong downwards trend I equate it to her falling down a flight of stairs so she needs to sit at the bottom and recover before moving again, therefore the day will start off being choppy and by about lunchtime she will have recovered sufficiently to get on her way again. You probably think I'm mad!

If there is an uptrending day, it's like she's trotting up a hill with a couple of bags of shopping. She puts the shopping bags down (retracements) for a rest then continues, but as she gets higher then often her pace slows down as the bags are getting heavier. She's unable to continue without taking a bigger rest. Yep, you're beginning to realise that I could very possibly be mad!

If the day has been choppy and there's a narrow range between the HOD and LOD (high of day and low of day) then she's been couped up all day and then the following day will often be a trending day as she gets out of the house and goes off for a run. Now you really know I'm mad!

I found that if I can understand the personality of the market, then it just makes it so much easier to trade.

Got to go .. there are men in white coats at the door.
 

Mr. Charts

Legendary member
7,367 1,184
Watch the movements of the S&P futures and Nas futures in the first 30-45 minutes to get an idea of choppiness and see whether new extremes are set by around 11.10 or not.
Also see how the moves relate to the floor traders pivot levels to give a very good feel for the day.
These approaches work - it's as simple as that.
Not as fascinating as Skim's inimitable style and techniques and not as interesting either. But, hey, if it works for Skim it must be good ;-)
I'll keep the padded cell warm for you ;-)
 

mags_g

Member
81 3
I use my own point and figure charts which allow me to ride the waves up, and the waves down. However, when I am riding the wave I keep a close eye on things to exit when my target or 'stop loss' has been reached. This allows me to spend time away from the screen with profits banked or losses minimized until the next wave comes along. Nice and simple and successful.
 

JesseLivermoreII

Junior member
35 0
Great thread suggy.
Mr. Charts, when you say...

Watch the movements of the S&P futures and Nas futures in the first 30-45 minutes to get an idea of choppiness and see whether new extremes are set by around 11.10 or not.
Also see how the moves relate to the floor traders pivot levels to give a very good feel for the day.


...do you mean extremes for the day ? And can you explain what you mean about the floor traders pivot levels ? Do you literally mean looking where the market turns ? Is this a characteristic of these two markets or woud you generalise ? Very interesting stuff,

With mucho respecto,
Jesse.
 

Mr. Charts

Legendary member
7,367 1,184
Hi Jesse,
"do you mean extremes for the day ?"
Up to that time,, yes
"And can you explain what you mean about the floor traders pivot levels ?"
I think there is a thread somewhere on this BB. It would take me about an hour to explain how, when and why they work.
"Do you literally mean looking where the market turns ?"
Yes
" Is this a characteristic of these two markets or woud you generalise ?"
Works in lots of markets. A client I was coaching y'day was telling me they work well in Eurostoxx.
 
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